Revert a CIP asset capitalization—Fixed Assets Management

If you capitalize an asset by mistake, you can revert the capitalization. This lets you make corrections such as changing the capitalization date or adding additional costs.

Reverting an asset capitalization does the following:

  • Deletes the related capitalization journal entry.

  • Changes the asset's state to Construction in progress.

  • Removes the capitalization record from the asset's CIP tab.

  • Allows additional costs to be added.

To revert multiple capitalizations at once, see Revert CIP asset capitalizations in bulk.

Before you begin

Verify the following:

  • The asset is active and in the Ready for review state.

  • No depreciation, cost adjustments, transfers, or partial disposals occurred after the capitalization date. Revert any subsequent activity first.

Revert a capitalization

SubscriptionFixed Assets Management
Regional availability

All regions

User typeBusiness
Permissions

Fixed Assets Management

  • Asset: List, View, Edit

Configuration
  • Correction treatment must be set to Revert in Fixed Assets Management configuration.

  • Construction in Progress (CIP) must be enabled in Fixed Assets Management Configuration.

  1. Go to Fixed Assets Management > All > Assets.

  2. Find the CIP asset that you want to revert.

  3. Select the asset's name to view it.
  4. Select the CIP tab.
  5. In the Capitalization section, select More actions > Revert.

  6. Select Revert to confirm.